Pros
Flexible work schedule gives Raytheon employees a great work / life balance. Pension and 401(K) match makes Raytheon's compensation package mostly unique, where employees get to "double dip." Finally, with management approval, employees are offered opportunities to work beyond 40 hours per week and get compensation pay for the extended work week (at the equivalent salary $/hour).
Cons
Slow moving (sometimes a glacial pace) company who reacts far to slowly to market and customer needs / wants. The employees are inundated with process, which is constantly getting more restrictive, disallowing the employee to use their best judgment as to what makes sense. The salary compensation is, I suspect, below average, but the overall compensation package is likely above average. However, the upsides FAR outweigh the downsides.